Business
SmartStop Self Storage REIT, Inc. Reports First Quarter 2025 Results
LADERA RANCH, Calif., May 07, 2025--SmartStop Self Storage REIT, Inc. Reports First Quarter 2025 Results
About this update from Smartstop Self Storage Reit, Inc.
[{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","credit":null,"className":"","disableSlideshowImg":false,"size":{"original":{"width":480,"height":293,"url":"https://media.zenfs.com/en/business-wire.com/83762a8bdb2387659d41a10c8bed0e80"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/7XA_2FOBNIixe5DB0zRPvA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTU4NjtjZj13ZWJw/https://media.zenfs.com/en/business-wire.com/83762a8bdb2387659d41a10c8bed0e80","width":480,"height":293}},"lazy":false},{"type":"text","content":"LADERA RANCH, Calif., May 07, 2025--(BUSINESS WIRE)--SmartStop Self Storage REIT, Inc. ("SmartStop" or "the Company"), a self-managed and fully-integrated self storage company, announced its overall results for the three months ended March 31, 2025.","length":269,"tagName":"p"},{"type":"text","content":""We are excited to report our first earnings as a publicly traded REIT," said H. Michael Schwartz, Chairman and Chief Executive Officer of SmartStop. "We had a strong first quarter, with same-store revenue growth of 3.2% as compared to the first quarter of 2024, which reflects improving customer demand across our portfolio. Many of our key metrics continued to stabilize and our same-store occupancy ended the quarter at 93.0%, 100 basis points ahead of last year. We are entering the rental season from a position of strength, but are balancing recovering storage fundamentals with the macro-economic uncertainty unfolding in both the U.S. and Canada.","length":669,"tagName":"p"},{"type":"text","content":""On April 2, 2025, we began trading on the New York Stock Exchange, a milestone accomplishment for SmartStop. We’d like to thank our employees, our Board and our retail investors who have helped build this company into the remarkable platform that it is today. We are energized by our trajectory as a publicly listed REIT, and look forward to the next chapter of the SmartStop story."","length":394,"tagName":"p"},{"type":"text","content":"Three Months Ended March 31, 2025 Financial Highlights:","length":55,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Net loss attributable to common stockholders was approximately $8.4 million. This represents an increase in net loss of approximately $3.8 million when compared to the same period in 2024. Net loss per Class A and Class T ...